The government relies on the country’s income tax, which contributes more to the internal revenue generation.
The Executive Director for Certified Practicing Accountants in PNG, Yuwak Tau, said marginal income tax rate paid by employees to the government is higher, compared to other taxes.
The CPA PNG Executive Director said this at the 22nd Annual conference of CPA PNG in Lae today (25/08/17).
The income tax is increasing because the government is keen in improving the country’s economy.
Mr Tau said there should be more job opportunities created in the country to cater for the members of the general public who are still seeking for employment.
This can help increase the income tax base being paid to the government.
Furthermore, Tau said the private sectors have contributed more to the government’s tax revenue, apart from the public sector.
The country’s internal revenue generated by the government is from employees’ income tax and company tax.
Sony McWilliams from McWilliams Training Consultancy said, more training and support for employees is needed in the workplace.
